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Smart Shoes Market

Smart Shoes Market Size, Share & Trends Analysis Report

Smart Shoes Market Size, Share & Trends Analysis Report By Product (Smart Shoes, Smart Insole, Smart Socks), By Application (Sports, Medical, Industrial), By End-Users (Men, Women) Based On Region, And Segment Forecasts, 2022 - 2028

Published
Report ID : BMRC 1849
Number of pages : 300
Published Date : Nov 2022
Category : Consumer Goods
Delivery Timeline : 48 hrs
Single User : $3250

Corporate User : $7999

Smart Shoes Market in terms of revenue was worth of USD 291.6 Million in 2021 and is expected to reach USD 555.3 Million in 2028, growing at a CAGR of 9.5% from 2022 to 2028. Smart shoes are a modern footwear that can be used to track activities levels. Smart shoes can be fitted with environmental sensors that detect the atmosphere around users. These sensors can monitor light, sound, and altitude. In addition, they have an internal sensor that monitors the shoe's battery life. Smart shoes are equipped with battery operated systems that need charging before use. They can be connected to other smart devices via Bluetooth. Insoles can be fitted with a variety of sensors such as a gyroscope, accelerometer, pressure sensor, altimeter, GPS, and other sensors. Smart shoes have some exciting features such as android application which sync up with smartphone through Bluetooth, vibrator provides the user when and where to turn to reach the destination and buzzer can set when the user goes in wrong direction. Smart running shoes can analyse user running style, measure strain, impact and make suggestions that support personal training goals. The data collected from smart shoes can help prevent running injuries and boost race performance.

The Covid-19 pandemic has driven smart shoe industry off track owing to closure of shops, weak consumer sentiment and depleting consumer’s income has led to develop less revenue streams for smart shoes market. On the other hand, owing to the restriction on imports, there was difficulty in obtaining raw materials that has affected the production of smart shoes market. In addition, the sales of smart shoes were partially down in some countries owing to the closure of retail outlets and restriction of delivery on non-essential items in some areas. So, the demand for smart shoes was partially affected by Covid- 19 pandemic.

Report Analysis Details
Historical data 2018 - 2021
Forecast Period 2022 - 2028
Market Size in 2021: USD 291.6 Million 
Base year considered 2021
Forecast Period CAGR %:

9.5% 

Market Size Expected in 2028: USD 555.3 Million 
Tables, Charts & Figures: 175
Pages 200
Smart Shoes Companies Adidas AG, Digitsole, Nike Inc., Puma SE, TRAQshoe, Under Armour Inc., Vivobarefoot Limited, Xiaomi Corporation, Zhor-Tech., Boltt Sports Technologies, Orphe, Intellinium, CODOON, Powerlace, Kickstarter, Droplabs, Others
Segments Covered By Product, By Application
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

Increasing demand for smart wearable technology, rise in healthcare awareness and surge in disposable income in developing countries are some of the major factors contributing to the growth of global smart shoes market. Popularity of fitness trackers and the users are increasingly place on gadgets that improve exercise routines. Globally, smart wearable device sales will double by the end of 2022, becoming approximately USD 27 billion market with 233-million-unit sales. Sneakers are the most popular application of smart shoe technology. Compared to the other wearable technology, smart shoe is a more challenging product to design, develop and produce that may obstruct the ongoing growth momentum for this market. Furthermore, the wearable fitness technology will be going to become increasingly prominent within the forecast period, as many consumers become aware of their health and aim to improve their quality of life. In both developing and developed countries, wearing smart hoes will become a standard among consumers who care about their health which will offer lucrative opportunities for smart shoes market within the forecast period.

In response to growing advanced wearable technology, manufacturers are significantly processing on inventing new technologies and collaborating between technology companies including google.  For example, Adidas and Google teamed up on smart shoes. From this collaboration, a new project has started named “gamer” from Adidas, Google and EA aiming to change smart shoe technology. It’s a smart shoe insole that synchronize with app. The sensors don’t need to be turned on frequently and don’t require a smartphone nearby to collect the data.  Apart from this, leading shoe brands are focusing on evaluating uniqueness in their product to takeover another leading company. For example, on January 19th, 2019, Puma has released self-lacing smart shoes to take on Nike which was available from spring 2020.

North America has accounted for almost 40.8% market share in the smart shoes market primarily due to the higher presence of leading brands and rapid adoption of advanced technology. For example, in 2021, the U.S. annual sales topped to around USD 100.7 billion. Smart shoes retail has changed dramatically from where shoes are sold based upon styles and trends. Smart shoe companies invest tens of millions of dollars each year in their people, stores, and platforms to ensure they deliver high-quality shoes. Europe is also leading region in the smart shoes market owing to the brands are largely innovating new ideas regarding healthcare tracking activities.

Analyst Comment, “Companies will be investing in patent filling which improve product app features and make new improvements are all set to create a great breakthrough for the smart shoe market”.

Global Smart Shoes Market Segmentation:

By Product

  • Smart Shoes
  • Smart Insole
  • Smart Socks

By Application

  • Sports
  • Medical
  • Industrial
  • Others

By Regional & Country Analysis:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • France
    • Germany
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

Smart Shoes Market Key Players:

  • Adidas AG
  • Digitsole
  • Nike Inc.
  • Puma SE
  • TRAQshoe
  • Under Armour Inc.
  • Vivobarefoot Limited
  • Xiaomi Corporation.
  • Zhor-Tech.
  • Boltt Sports Technologies
  • Orphe
  • Intellinium
  • CODOON
  • Powerlace
  • Kickstarter
  • Droplabs
  • Others

Trends-

At present, the spread of new technology has increased to a great extent around the world, in this, smart shoes have also come into the market with a new technology for some time. Following is some of the new technologies that are contributing to the growth in demand for smart shoes.

One of the major trends in the global smart shoes market and the basis of Technology: -

  • Obstacle Detection for Blind: - Walking independently in public places is a challenge for many people with disabilities, especially the visually impaired. Fire hydrants, pits, stairs, etc. There are some obstacles that blind and visually impaired people need to be aware of. Now, an innovative smart shoe aims to help them negotiate such obstacles and move around safely and independently. A smart shoe Austrian start-up launched by Tec-Innovation, called InnoMake, aims to make walking in public spaces safer for blind people. InnoMake has sensors that warn blind and visually impaired people about various obstacles in their path with sound and visual warning signals, as well as vibration feedback. InnoMake has a built-in battery, ultrasonic sensors, processing unit, and wireless connection to smartphones. All of this is housed in water and dust-resistant cover on the front of the shoe. This makes it tough and durable for any type of weather.
  • Automatically Detect and Cataloging Running Data:- Smart shoes are designed specifically for runners, tracking both road and treadmill runs. They will start tracking as soon as the user starts running and then stop for five minutes after quitting running. If the user takes a three-minute walk break, they will stop for those few minutes and then resume when the runner wakes up. If there is a longer pause, the shoes will count the next run as a new workout. This is something that connected sportswear company Sensoria also offers with a smart shoe announced at the end of 2017. And, Under Armor launched its newest innovative shoe product with innovative technology that allows users to run without having to charge third-party devices or remember to start in a workout app.

Furthermore, the shoes will automatically track distance, stride length, and cadence, even if the runner doesn't bring a phone with them. The data is stored on the shoe until it is synced to Under Armour's MapMyRun app via Bluetooth when the runner returns home. As part of the ""tethered experience,"" the sneakers will sync with the phone's GPS to capture real-time location, speed, and elevation gains.

  • Integrated Turn Technology & Brake Light Technology (Bike Riders):-Smart shoes specially designed for bike riders focus on safety fashion like no other. These smart shoes have integrated turn technology and brake light technology that is directly connected to the bike for a safer ride. In addition, these lightweight shoes utilize toe technology for enhanced rider visibility and impact protection by rethinking shoe construction to deliver all-day riding comfort and performance without cutting corners. Overall smart shoes blur the line between performance and casual. For example, in the last few days, ROAME has launched Zeros Wireless Blinker Brake Motorcycle Shoe in the market. All these types of technologies are available in these shoes. Which will greatly benefit a bike rider in night travel. ROAME Zeros seamlessly integrate turn signal and brake light technology that wirelessly connects to users' motorcycles.
  • Powerful Bright LED Light- Smart light-up shoes with the smart shoe technology are 100% waterproof and glow in different colors. Adjusting the color of the LED sneakers is quick and easy by simply pressing the button that can be found in the new light-up shoes. Users have many possible options to choose the color of shoes with bottom lights. Users can set optional settings to flash a solid color or multi-color light pattern using a button that sits inside the light-up shoes on sale. The Sneaker Lite is very easily controlled via a mobile app if you choose to upgrade to it. Each pair of sneakers with lights comes with a USB cable for hassle-free and practical battery charging that can last up to 9 hours. Its casual insoles and versatility help make these fantastic LED shoe sneakers.

The benefits of bright shoes-

  • USB rechargeable, one charge lasts up to 9 hours.
  • Shoes that light up the bottom with bright LED lights.
  • The shoe has multi colors with solid and multi-color modes: red, yellow, green, blue, purple, aqua, white, and color changing (it cycles through each color with each click of a button).
  • The lamps are completely waterproof.
  • Self-Lacing Technology- Self-tying shoes (also known as self-lacing or power laces) are designed to automatically tighten when the user puts them on. Once the user steps in, a sensor registers foot pressure on the sole and activates two servo motors, which tension the laces, thus tightening the shoe. A touch-activated switch reverses the servos and loosens the laces. The power-lacing feature relies on a customized motor and gear train that senses the amount of stress on the wearer's foot at different times and adjusts accordingly to maintain a snug fit. The wearer can use the button on the shoe to tighten and loosen the laces. Nike announced the Nike Adapt BB, a new self-lacing basketball shoe that continuously adapts to the wearer's exact needs, with a mobile app and adaptive firmware to control ongoing adjustments, according to a Nike news post.
  • Digital Screen Technology- Smart shoes with embedded sensors and flexible LED screens, are high-tech and allow wearers to personalize their shoes by using them as miniature displays to show designs, animations, and photos sent from smartphones. Various models have also built in a host of smart features like wireless charging, more accurate step-tracking, embedded motion sensors to capture real-time data, and open APIs so developers can work on customizing the shoes to their heart's content. Like, Vixole Inc. introduced the new Vixole Matrix, the World's First Customizable E-sneaker.
  • Temperature Maintain Technology- A temperature controllable shoe consists of a part of the shoe that contains a plurality of Peltier chips and is disposed of on the inside of the shoe. The user selects the desired temperature. Peltier chips are placed in front of the heat sink in thermal contact to dissipate any unwanted heat. In one embodiment, a wireless control unit is provided to control the temperature of the shoes wirelessly. Because of the thermal properties of Peltier chips, they can be used to provide heating or cooling depending on the current flow. In another embodiment, the user wears a battery pack that is attached to the shoe by a wire. In another embodiment, the battery is placed inside the shoe. In one embodiment, indicator lights are provided to allow the user to visually check the condition of the shoes.
  • Location Finder using GPS- The development of modern science is changing rapidly. GPS is used in daily life in various fields like navigation, positioning and measurement. Nowadays GPS tracking technology in shoes has become a trend due to its valuable and varied services. There are many companies involved in manufacturing different models of GPS tracking shoes. GPS tracking technology allows the caretaker to preset an area for safety and security. So, the service automatically sends a cell phone alert when someone crosses a safe zone and enters an unsafe zone. Another key feature is the intelligent power source that can provide enough battery power to last for days without recharging. For example; GTX, a California-based company, has launched a range of smart GPS shoes. Inside the shoe is a small GPS unit that communicates with the user to a central location tracking service. It helps parents track their kids while they are out of their home and even these shoes offer an option to define a specific area called geo-fencing so that an alarm bell rings on the user's cell phone as soon as your child crosses that specific area. Also, GTX Corporation uses the Cingular network to transmit location data to end users. The shoe is powered by Marlin's receiver which works even when users are at home with the help of a cellular tower.
  • Pressure Sensors- Pressure sensors are also being used to measure changes in plantar pressure during a person's gait. A display screen is being used by doctors to present the gait pattern for clarification. The use of pressure sensors to monitor walking patterns is a very useful tool for applications such as rehabilitation. In a development in this area of research, shoe manufacturing companies design shoes with shoe-embedded sensors in the sole. Shoe-embedded sensor technology is also attractive to the sports industry as it helps athletes track their speed and performance and coaches effectively train high-level athletes. Products like Fitbit measure a runner's steps, the most important metrics being a runner's speed, cadence, foot landing, and impact every time users hit the ground.

Detecting Early Symptoms of Any Illness Technology- Innovative sensor technology picks up the movement pattern imprinted in the shoes. Proprietary AI algorithms (which solve specific problems that translate into actions) analyze the data. In doing so, the shoe performs a neurological assessment, helping users understand and respond to health issues such as dementia, diabetic ulcers, or the likelihood of falling. SensFit Technologies, a startup led by Swinburne, has developed a smart shoe with built-in sensors that can improve the quality of life of older people by early detection of dementia, diabetic ulcers, and other mobility issues.

Key Benefits for Smart Shoes Market Reports –

  • Global Smart Shoes Market report covers in depth historical and forecast analysis.
  • Global Smart Shoes Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
  • Global Smart Shoes Market report helps to identify opportunities in market place.
  • Global Smart Shoes Market report covers extensive analysis of emerging trends and competitive landscape.
SUMMARY
VishalSawant
Vishal Sawant
Busines Development
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